Mumbai/Kolkata: DBS Bank India Limited (DBIL) announced that it has received capital infusion of INR 2,500 crore from DBS Bank Limited, Singapore, to support the India franchise, following the amalgamation of Lakshmi Vilas Bank (LVB) with DBIL, says a press release.
DBS Bank India Limited (DBIL) is well-capitalised, and its capital adequacy ratios (CAR) remains above regulatory requirements after the amalgamation. The amalgamation provides stability and better prospects to LVB’s depositors, customers and employees following a period of uncertainty.
Once the integration is complete, customers will be able to access a wider range of products and services, including access to the full suite of DBS digital banking services which have won multiple global accolades. The scheme of amalgamation came into effect on 27 November 2020.